My wife and I purchased a semi-detached Georgian house in Bingham. Conveyancing practitioner represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bingham and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing lawyer who carried out the work.
What does commercial conveyancing in Bingham cover?
Bingham conveyancing for business premises incorporates a broad array of advice, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Bingham. I have land on a site which appears to be the ideal solution If there is a chance to get all formalities completed via web that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a couple of maisonettes in Bingham which have about fifty years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Bingham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
I invested in buying a leasehold flat in Bingham, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Bingham with a long lease are worth £191,000. The ground rent is £55 yearly. The lease runs out on 21st October 2073
With only 54 years remaining on your lease we estimate the price of your lease extension to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I am purchasing a maisonette mortgage free. I have provided conveyancer with 2 distinct evidence of photo ID, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Bingham conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.